Your Weekly Dose of News from the Commercial Real Estate Industry

Apple Opens New Office in India's Silicon Valley

Apple recently opened a new office in Bengaluru, demonstrating its commitment to India's flourishing tech sector. The office is at Minsk Square, near the iconic M. Chinnaswamy cricket stadium and the lush Cubbon Park. It spans 15 floors and can accommodate up to 1,200 employees. The facility features dedicated lab spaces, collaborative areas, wellness centres, and the signature Caffe Macs.

In addition, this office operates entirely on renewable energy and is built with locally sourced materials, emphasising sustainability. The proximity to the Cubbon Park Metro station underscores the office's accessibility and commitment to employee comfort.

This expansion is part of Apple's broader strategy in India, which includes various operations such as software engineering, hardware technologies, and customer support. The new office complements Apple's existing presence in UB City, Bengaluru, and other locations across India, including Hyderabad, Mumbai, and Gurugram. Alongside manufacturing and retail initiatives, Apple continues strengthening its influence in the Indian market, contributing significantly to the region's technological and economic growth.

• Read Full News at Deccan Herald
• Explore More Bangalore and Delhi Surpass Beijing & Seoul in APAC Flex Space

BNY Mellon Expands With Prestige Group in Pune

BNY Mellon, a global financial services leader, will expand in India by leasing nearly 1 million sq ft of office space at Prestige Group's Alphatech Business Park in Pune to consolidate its current city offices.

BNY Mellon is expanding its real estate presence in India with a 16-floor campus across Pune and Chennai. The campus will cover 1.4 million square feet and be operational by late 2024. The 15-year lease at Rs 79 per square foot emphasises the company's commitment to the Indian market and its role in Pune's corporate sector.

The Prestige Group plans to develop 40 million square feet of office assets in major markets over the next five years. The collaboration with BNY Mellon aims to increase rental income tenfold, targeting over Rs 3,000 crore in the next five years. BNY Mellon's consolidation in Pune is a strategic move to improve collaboration and efficiency among its employees and enhance its global client service.

• Read Full News at Realty+
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Coworking Spaces Lead the Charge in Workspace Evolution

Coworking spaces are revolutionising workspace strategies, offering flexible office options from individual desks to private offices. Coworking is gaining popularity in India, especially among tech companies, engineering, and manufacturing industries. In 2023, there was a significant surge in demand for coworking spaces, with corporations, MNCs, and GCCs flocking to collaborative hubs.?

Bengaluru is leading the expansion, with large deals in flex space doubling in recent years. The popularity of coworking can be attributed to a range of benefits, including customisation, flexibility, location advantages, and cost-effectiveness. These attributes are reshaping traditional office models and driving growth in secondary markets.

Coworking is expected to capture a larger office market share by 2030, particularly in the APAC region, with India leading the way. The appeal of coworking lies in its ability to adapt to the evolving economic landscape and offer amenities that traditional spaces cannot match.?

As the work dynamic transforms, coworking spaces are the most adaptable and cost-effective solution, providing a unique blend of shared amenities and flexibility.

• Read Full News at Financial Express
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Most In-Demand Locations This Week-

Metro City: Mumbai

Micromarket: Navi Mumbai

Non-Metro City: Indore

Micromarket: Ravindra Nagar